IT Cost Savings Program Management

Client Business Issues:

The information technology division of a major banking institution
needed to identify and execute cost savings initiatives in the areas of
IT operations and development. Important concerns of the client
included achieving tangible short term savings and setting the stage
for longer term savings while not negatively impacting performance
quality or delaying current projects in progress.

The client
requested that Arc Partners manage the cost savings project team
consisting of employees from IT operations, development, and
procurement.

Our Approach:

Arc Partners applied a
systematic approach to the process of cost savings identification that
included instituting a program management framework and leveraging the
expertise of project team members. The project team included seven core
team members supplemented by a dozen subject matter experts. Weekly
meetings were held by each of the three sub-teams: technology
operations, development, and procurement.

Cost savings
initiatives were progressed through a series of stages including idea,
feasibility analysis, business case, and implementation. Each
initiative was vetted by core team members and specific subject matter
experts. Promising initiatives were then reviewed with the steering
committee and executive IT management for support and prioritization.

In addition to strong project team communications we leveraged the
resources of the client’s IT Communications department to raise
overall IT employee awareness and understanding of the need to identify
cost savings opportunities. This included writing articles and
presentations for distribution via newsletters, intranet postings, and
employee staff meetings.

Value Received By Client:

Arc Partners assisted the client in identifying cost savings
initiatives in IT operations, development, and procurement and achieved
the following results: